Company culture is perhaps the number one factor for success. Not only does it play a huge role in motivation and productivity, but it greatly affects turnover rates. In fact, workplaces with a strong, positive culture have voluntary turnover rates as much as 65% lower than their peers.
Here are four simple ways you can start improving your culture today.
When you run a transparent business, you create a culture where everyone is open and accountable for both daily operations and the future of the business. When you allow them to “see under the hood”, they’ll not only have a better understanding of how the business works, but will feel more invested in its success.
We’ve talked before about the importance of diversity in the workplace and the benefits of hiring a diverse staff. Diversity increases economic growth, provides valuable insights from multiple different viewpoints, and opens your business up to a greater share of the consumer market. But more importantly, it increases respect and understanding among your workforce for different backgrounds, religions, races, genders, and sexual identities.
Trust goes hand in hand with transparency, because in order to be transparent, you have to trust your employees. When you trust your employees to handle important tasks on their own, it builds confidence, increases productivity, and gives them a sense of purpose and belonging.
A strong culture is an efficient culture, and you can’t have either without communication. Give honest feedback and constructive criticism. Celebrate wins. Dole out deserved compliments. But more importantly, provide an open channel of communication between you and your employees. When they feel like they can come to you with any issue or idea, it will strengthen the overall relationship and create an all-around better culture.